Canada’s Liberal Party is set to choose a new leader to replace Justin Trudeau, with the announcement expected on Sunday. The two frontrunners are Mark Carney, a former central banker known for his economic expertise, and Chrystia Freeland, Trudeau’s former deputy prime minister.
Trudeau announced his resignation in January but remains prime minister until a successor is chosen. The new leader is expected to call an early election, with the Conservative Party’s Pierre Poilievre posing a strong challenge. With US-Canada relations strained under Trump, the vote will likely focus on who is best equipped to handle Washington’s economic pressure.
Mark Carney
Mark Carney, is a former governor of both Canada’s central bank and the Bank of England, making him a unique figure in global finance. He is widely credited with helping Canada recover quickly from the 2008 financial crisis, keeping interest rates low and maintaining financial stability.
Carney’s ability to communicate complex economic policies in simple terms made him a trusted figure during economic crises. His decision to commit to keeping interest rates low helped maintain public confidence and was later adopted by the US Federal Reserve.
Since announcing his leadership bid in January, Carney has received strong endorsements from Cabinet ministers and Liberal MPs, positioning himself as the favourite to lead the party into the next election.
Chrystia Freeland
Chrystia Freeland, Trudeau’s deputy prime minister, was once seen as a strong contender for Liberal leadership. She played a key role in negotiating trade deals and managing US-Canada relations.
However, her close association with the unpopular Trudeau has hurt her chances. She resigned in December after Trudeau removed her as finance minister, releasing a letter critical of his leadership.
Carney’s growing support, combined with the Liberal Party’s fear of losing to Conservative leader Pierre Poilievre, has made him the clear frontrunner. Many Liberal MPs see him as the best candidate to challenge Poilievre and counter Trump’s economic threats.
